CPI jumps 5% in May of 2021, fastest since 2008

[oyarde]

Switzerland ends neutrality with ruskies , freezes assets. Ruble now worthless .NYSE will not allow trading in stocks that are russia based Hell I thought everyone knew Putin would invade Ukraine. Brits will not allow russian vessels in port .

 

[oyarde]

Shell dumping oil and gas business in russia , Brent Crude closes at 101 , up 3 percent , one yr oil forecast 110. West Texas Light Sweet Crude up 4 percent, heating oil over 3, nat gas just short of 4 1/2.

 

[oyarde]

gold looks to be settling in around 1935 , still a bargain , gold looks like it would have to hit 2200 or more to reflect just the last ten months of inflation . silver finally moved a little up over 3 percent , reached 25 1/3 earlier , if it holds over 25 the rest of the week that would be a good sign for physical . 90 percent physical halves trading at nearly 30 an ounce this morning

 

[oyarde]

oil jumps to obama levels , more inflation to come .

 

[oyarde]

Oil sees 110 , gold clears 1950 , about 1940 now . I think it just needed support at 1920 to reach 2k in Mar- Apr. Oil , what is next 120? Inflation still rising . Americans are fairly slow overall , they might be beginning to get a glimmer of it .

 

[Krugminator2]

USO is 75.8 and this month futures for oil is right at $112 for a barrel of oil. Things about as stretched as they get. 95% chance oil has a good sized drop from here. If it doesn't drop it would be very unusual and maybe means things a lot worse with the Russia stuff.

 

[Madison320]

Oil sees 110 , gold clears 1950 , about 1940 now . I think it just needed support at 1920 to reach 2k in Mar- Apr. Oil , what is next 120? Inflation still rising . Americans are fairly slow overall , they might be beginning to get a glimmer of it .

It's amazing how high oil is considering the dollar has been rising.

I still think oil is going to come down while the Fed is pretending to tighten. When the Fed reverses and loosens I think we could easily see $200 oil.

 

[oyarde]

It's amazing how high oil is considering the dollar has been rising.

I still think oil is going to come down while the Fed is pretending to tighten. When the Fed reverses and loosens I think we could easily see $200 oil.

I also think 200 oil and 2400 gold are easily within the possibility of reach within the next yr or so. Who knows , sky is the limit but we've been just a breath away from all of that once you got to a dow of 20K more than the top of the last crash while at the same time increasing the money supply like crazy with crazy spending for 13 yrs.

 

[Madison320]

I also think 200 oil and 2400 gold are easily within the possibility of reach within the next yr or so. Who knows , sky is the limit but we've been just a breath away from all of that once you got to a dow of 20K more than the top of the last crash while at the same time increasing the money supply like crazy with crazy spending for 13 yrs.

I'm reading all these articles blaming inflation on Russia. How much do you want to bet that by the midterm elections the mainstream media and the democrats will try to pin MOST of the inflation on Russia. Despite the fact that prices were rising at least a year before the invasion.

That being said the republicans trying to blame it all on biden is idiotic as well. Both parties have pretty much created equal amounts of inflation since 2008.

 

[oyarde]

I'm reading all these articles blaming inflation on Russia. How much do you want to bet that by the midterm elections the mainstream media and the democrats will try to pin MOST of the inflation on Russia. Despite the fact that prices were rising at least a year before the invasion.

That being said the republicans trying to blame it all on biden is idiotic as well. Both parties have pretty much created equal amounts of inflation since 2008.

Ya but any GOP running for house or senate should point out the trillions more in wasteful spending bills the dems were planning for this yr to make it much worse.

 

[Madison320]

Ya but any GOP running for house or senate should point out the trillions more in wasteful spending bills the dems were planning for this yr to make it much worse.

Remember though, when the GOP had trump and the house and senate, spending went way up, more than during obama (except for obama's first 2 years when the dems had total control).

That being said I do think now that we have price inflation republicans are more likely to slow spending then the democrats.

 

[oyarde]

Fed still going to raise rates in Mar I reckon . I'm not expecting it to have any effect on inflation. Do nothing fed too little too late to do anything for the avg joe.

 

[Madison320]

Just about all the commodities are making all time highs. Wheat, corn, copper, gold, etc.

To me that's a more accurate inflation gauge than the CPI. The surprising thing to me is that it took this long to make new highs considering how much we've printed since the last time those highs were made back 2012. I guess that's the luxury of having the reserve currency.

I still think we have a ton of catching up to do before commodities get back in proportion with the amount of dollars that have been printed (otherwise know as the federal reserve's balance sheet). Plus the demand for dollars has nowhere to go but down. Is there any doubt that China is planning on dumping their dollars?

 

[Occam's Banana]

 

[oyarde]

2004.70 looks like this months high for gold so far , oil at 13 yr high , dow futures down 400

 

[oyarde]

gasoline prices and gold set new record highs today. inflation picking up steam .

 

[Madison320]

gasoline prices and gold set new record highs today. inflation picking up steam .

It was less than two years ago that pretty much every mainstream economist said we had to worry about deflation not inflation. And they'd been saying that for the last 10 years.

I kept saying that makes no sense that they're afraid of deflation because the Fed can instantly create massive amounts of inflation anytime they wanted. It's inflation that they were really worried about, for good reason because the only way to fight inflation is to cause a massive financial crisis much worse than 2008.

 

[oyarde]

Feds balance sheet of bonds estimated at 9 trillion by Apr 01 . Inflation keeps on chooglin .

 

[ClaytonB]

It was less than two years ago that pretty much every mainstream economist said we had to worry about deflation not inflation. And they'd been saying that for the last 10 years.

I kept saying that makes no sense that they're afraid of deflation because the Fed can instantly create massive amounts of inflation anytime they wanted. It's inflation that they were really worried about, for good reason because the only way to fight inflation is to cause a massive financial crisis much worse than 2008.

It's two lies for the price of one. If the Fed should ever contract the money supply (and it can do this as easily as it can expand it), this would almost certainly trigger another deflationary collapse, ala 1929. So, the threat of deflationary collapse is very real, but the Fed is the only one that can pull that lever.

 

[oyarde]

I'm a steamroller now , baby , I'm bound to roll all over you. In another 20 days we enter the beginning of the 12th month of the worst inflation in the history of the US while the fed has done nothing but make it worse. Will the sheep citizens continue to let the kremlin to treat them this way ? I predict yes.